The Stellar Development Foundation (SDF) in association with the startup Blockchain started the first airdrop distribution of Stellar (XLM) for the Blockchain wallet users. Through this airdrop, the foundation plans to distribute the equivalent of $125 million in Stellar Lumens (XLM). Blockchain highlighted on its blog that this airdrop of tokens is the largest in the history of cryptocurrencies.
Blockchain has already incorporated Stellar (XLM), making it the fourth platform-compatible crypto, along with Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH). The Luxembourg-based startup will provide full support through its Blockchain Airdrop program for the Stellar (XLM) distribution process.
Stellar (XLM) foundation aims to reach more than 30 million Blockchain wallet users. The XLM airdrop will mobilize about 490 million Stellar (XLM) from the “SDF World Giveaway” portfolio, which has about 44.6 billion tokens, according to The Block. Stellar co-founder Jed McCaleb, who also co-founded the Mt. Gox Bitcoin (BTC) exchange, said the distribution of XLM tokens creates “a more inclusive economy.”
Stellar (XLM) Airdrop In A Value Of About $125 Million To Commence For Blockchain Wallet Users
Sending lumens for free is an invitation to communities to design the services they need. By working with Blockchain to increase the availability and active use of lumens on the network, we will increase the utility of the network by many orders of magnitude,” said Jed McCaleb, co-founder of Stellar Development Foundation, the entity running the Stellar (XLM) cryptocurrency.
However, this Stellar (XLM) airdrop may not have a high impact on the goal of achieving an inclusive economy, as it represents 2.6% of the XLMs in circulation and only 0.47% of the total supply.
Less than a month ago Blockchain made the official announcement of its Stellar (XLM) airdrop program. On that occasion, the startup presented a technical document where it explained the principles for the selection and distribution of cryptocurrencies via airdrops episodes. Among them, the company highlighted the technical quality of the crypto tokens, the strength of the community, and compliance with regulations.
Vadim has been a fan of decentralized systems, blockchain technology, and cryptocurrency since he first bumped into these concepts back in 2011. For us, he will cover Bitcoin (BTC), cryptocurrency, and blockchain technology news.